Short-run fluctuations in output and employment are referred to as:
A) Economic growth
B) Business cycles
C) Inventory cycles
D) Recession and inflation

Question

Quizplus · Accepted Answer

Short-run fluctuations in output and employment are commonly known as business cycles. These cycles are characterized by alternating periods of expansion and contraction in economic activity, reflecting changes in aggregate demand and other factors that affect the level of economic activity.

Short-Run Fluctuations in Output and Employment Are Referred to As